Zindart Limited is a manufacturer of high-quality, die-cast, injection-molded and paper products including die-cast collectibles, collectible holiday ornaments, toys, hand-made books, and specialty packaging. For the three months ended 6/30/98, net sales increased 13% to $29.4 million. Net income increased 16% to $3.1 million. Net sales reflect increased sales of diecast collectibles to Mattel. Net income also reflects a higher gross margin due to improved cost control.
In the last year, they've been taken to task. First, insider sales took its toll in June. Then in August, the 10Q came out and said a core customer would not be ordering as much this year. With Asian and interest rate blues, this Hong Kong company hit $4 3/4 in October.
The value is there: I've been following this company because of the Mid-Year Roundtable recommendation in Barron's this year. It's currently trading under book value of $7.2 and has a PE of 4.6.
WH
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